Economy
Plus in the car industry: Industry’s order pads are growing
In the battered German industry, the order books become thicker again. Especially in the key industry, it goes up. That gives hope for the economy.
Thanks to strong growth in the car industry, the order pad in German industry is greater. The order stock rose four percent in April for the same month in the previous year, as the Federal Statistical Office in Wiesbaden reports. Measured on the previous month of March there was an increase of 0.8 percent.
The increase is significantly due to the auto industry, where the order stock grew by 2.6 percent to the previous month, the statisticians explained. In other vehicle construction – the planes, ships, trains and military vehicles – it also went up.
Hope for the end of the industrial sounds
The range of the order stock remained 7.8 months in April. It indicates how long the companies would have to produce without new order inputs with the same sales in order to process existing orders.
The numbers support the hope that the crisis -plagued German industry has the worst behind. In the past few months, the industrial orders have been a bit uphill. The weakness of the industry that has painted thousands of jobs is one of the main reasons for the crisis of the German economy, which has shrunk for two years in a row. Most economists expect stagnation this year. Bundesbank President Joachim Nagel also considers mini growth possible. However, a lot depends on a solution in the customs dispute with US President Donald Trump.
dpa
Source: Stern
